Procedure liquidating a company kenya

The PBO Act aims to create a new legal, regulatory, and institutional framework for non-profit organizations doing public benefit work in Kenya, under a single law.Kenya’s Parliament passed the PBO Act in December 2012 and the President approved it in January 2013, but a date for its implementation has not yet been set.For companies limited by shares, the current Companies Act [2015] provides for one-member private and public companies.

Kenya exempts from corporate income tax, the income of certain NPOs that carry out specific types of activities.Unlike the NGO Act, the PBO Act gives very little discretion to administrative officials in deciding whether to reject a registration application.The PBO Act also provides straightforward criteria for registration of international NGOs.There is no prescribed organizational structure for a company limited by guarantee.Nor are there are particular restrictions as to who may be appointed a director; there is no requirement that a director be a resident or citizen of Kenya, for example.

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PBOs do not include: The PBO Act establishes a new regulatory body for non-profit organizations engaging in public benefit activities: the PBO Authority.

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